MyCompanyWorks (Formerly MyNewCompany) LLC Service Review
Since 2001, MyCompanyWorks (formerly MyNewCompany) has provided LLC formation and other legal services to over 50,000 businesses. There are 20+ services that will form your LLC online, but MyCompanyWorks has carved out a significant market share in the industry.
Like any company, they have their advantages and disadvantages, which is why this MyCompanyWorks LLC service review outlines everything you need to know before making use of their formation service.
Advantages & Disadvantages
Advantages of MyCompanyWorks:
- With their 100% satisfaction guarantee backing any purchase from MyCompanyWorks, you can be confident you’re spending your money wisely. If you decide otherwise, simply ask for a “no questions asked” refund within 90 days of purchase.
- They get excellent feedback from their customers, with nearly perfect average ratings out of hundreds of online reviews.
- MyCompanyWorks returns most phone calls and emails in 20 minutes or less during business hours, while many competitors can take a full business day or longer to get back to you.
Disadvantages of MyCompanyWorks:
- While their $79 starting price is a good price, that package doesn’t include registered agent service like IncFile or a federal tax ID number (EIN). Most companies require both of those features. (What is a registered agent?)
- Speaking of registered agents and EINs, the only package MyCompanyWorks offers that includes both services is the Complete package which costs $279 before state fee.
MyCompanyWorks LLC Packages
MyCompanyWorks offers 3 different levels of LLC service packages which vary in price and features. To review the complete details of each package, you can do so on their website.
Depending on the nature of your unique business, it’s hard to make a blanket recommendation because every company’s needs are different. Still, the way MyCompanyWorks structures their packages makes it quite simple to figure out which one will work for you — or you can build your own package, as we’re about to do.
Put simply, the Basic package is the best, but it requires some additional features that push it from $79 to over the $200 mark. This package is exactly what it sounds like, including the basic essentials of formation plus a personalized LLC operating agreement which is a nice touch. You definitely should have an operating agreement for your business to define your company structure, and this saves you the hassle of having to draft one yourself.
Current Price (Basic package): $79 plus state fee
The Entrepreneur package takes the price from $79 to $199, and it does include a federal tax ID number or EIN which your company most likely needs for things like opening business bank accounts, hiring employees, etc. However, the other features at the Entrepreneur level are a symbolic LLC kit and seal that no business requires and a library of sample forms. Since you can add an EIN for just $45, let’s add that to the Basic package instead of spending up for features you don’t need.
Current Price (Basic + EIN): $124 plus state fee
Finally, the Complete package adds one feature: a year of registered agent service to receive and forward official legal documents, which is another necessity for most businesses. Still, because the Complete package is built upon the foundation of the Entrepreneur package, the $279 price tag is significantly higher than simply adding a registered agent for $99 to our custom Basic package.
This way, you can get everything you need and nothing you don’t, while still keeping your total price hundreds of dollars cheaper than hiring a business attorney to draft your formation documents for you.
Final Price (Basic + EIN + registered agent): $223 plus state fee
What Are Other Entrepreneurs Saying?
MyCompanyWorks is an experienced LLC formation service provider, so it’s no surprise that there are quite a few customer reviews to be found online. In fact, there are well over a thousand individual reviews across the web.
For this customer review section, we researched the two sites with the most third-party reviews of MyCompanyWorks (ShopperApproved). It’s highly recommended to take the time to skim through some of that feedback yourself, but their customers generally praise the accessibility of their support reps and the customizability of their services (which we’ve already discussed here ourselves!).
Long story short, MyCompanyWorks maintains fantastic average scores with their online customer reviews. Most entrepreneurs are pleased with their decision to use their LLC formation service.
Should You Use MyCompanyWorks?
In general, MyCompanyWorks is a solid LLC formation service, with more pros than cons to their services. Here are some guidelines to whether it’s a good idea for you to use MyCompanyWorks.
When to Use:
If you place a high value on customer service and you appreciate the safety net provided by a 100% satisfaction guarantee, MyCompanyWorks is a great option.
When NOT to Use:
Need to save a bit more money? There’s ways to do that, like with IncFile’s Gold package. IncFile Gold costs $149 (plus state fee) and includes both an EIN and registered agent service, a savings of $74 over our custom-equipped $223 MyCompanyWorks package.
MyCompanyWorks is a strong contender to provide LLC formation service for your company. Yes, you can save some money with a provider like IncFile, but there aren’t many arguments to be made against MyCompanyWorks in general. They are a reliable service.
Feel free to read through our guide to the top LLC services, or get started with MyCompanyWorks right away.